Bitfinex Now Has the Second-Richest Tether (USDT) Wallet

In a continued reorganization of the Tether market, more USDT tokens were sent to Bitfinex and other leading exchanges.

In a continued reorganization of the Tether market, more USDT tokens were sent to Bitfinex and other leading exchanges.

Bitfinex now lines up as the second biggest holder of Tether (USDT) in its hot wallet, surpassed only by the main Binance wallet. On October 8, several exchanges saw USDT inflows, including Binance, Huobi, Kraken. Bitfinex was among those exchanges and now holds more than 259 million USDT.

What is more worrying is that while the Bitfinex exchange accumulates the dollar-pegged USDT, there are noticeable outflows of Bitcoin (BTC) from its cold wallet, with thousands of BTC flowing out in the past days. In a recent blog, Bitfinex denied rumors of insolvency, but still, the wallet withdrawals have been significant in the past month.

Additionally, the Tether treasury has taken out 100 million USDT from Bitfinex on Tuesday, October 9. With the latest move, the Tether treasury now holds more than 286 million USDT.

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